EXEL ACQUIRED BEKAERT?S COMPOSITE PROFIL

20.1.2004 17:00 EET
EXEL OYJ    STOCK EXCHANGE RELEASE  20.1.2004 at 17.00  1 (1)

EXEL ACQUIRED BEKAERT’S COMPOSITE PROFILE BUSINESS

The acquisition by Exel of Bekaert’s composite profiles has been
completed. Closing took place on 20 January 2004 and Exel has now
taken possession of the business operations. Measures aimed at
improving business operations and the integration of Bekaert’s
composite profiles activities to Exel’s Industry division will be
commenced without delay.

The future outlook is positive, and new R&D projects relative to
the transportation industry representing a significant possibility
for increased volumes are being pushed forward during 2004.

Mäntyharju, 20 January 2004


Ari Jokelainen
President & CEO


Further information:
Mr Ari Jokelainen, President, Exel Oyj, tel. +358 50 590 6750
Mr Vesa Korpimies, Vice-President, Exel Oyj, tel. +358 50 590 6754



Exel Oyj is a Finnish company specialised in composite technology.
In 2002 the Group’s net sales totalled EUR 51.2 million. It
employs 350 persons. The Group’s operations consist of industrial
applications and sporting goods. Exel’s most well known products
include composite profiles, cross-country and Nordic Walking
poles, floorball clubs and surfboard masts. The Group’s five
factories are located in Finland, Germany and Belgium. Over 70% of
production is exported. Exel’s share is listed on Helsinki
Exchanges main list.
Further information: www.exel.net



Exel Composites Oyj, Vantaa head office, Mäkituvantie 5, FI-01510 Vantaa, Finland